KTAR News – Phoenix-Area Prices Up by Nearly 11% in Past Year, Outpacing National Inflation
The Phoenix area outpaced the nation in inflation over the past year, with consumer prices surging by nearly 11%, according to data released Thursday by the U.S. Bureau of Labor Statistics.
National prices were 7.9% higher in February than a year ago, the largest 12-month increase since the report for January 1982.
It was even worse for Valley residents, who saw inflation as measured by the consumer price index surge by 10.9% in the past year, BLS reported.
If the volatile food and energy categories are taken out of the calculations, annual inflation was 9.9% in metro Phoenix and 6.4% nationally.